President Donald Trump on Friday announced the U.S. government has secured a 10% stake in struggling Silicon Valley pioneer Intel in a deal completed just a couple weeks after he depicted the company’s CEO as a conflicted leader unfit for the job.

Under the deal, the US government is committing $8.9 billion to purchase Intel stock, which would give the government a 9.9% stake in the company. That's in addition to the $2.2 billion grant Intel has already received from the US under the CHIPS Act, which was signed into law by former President Joe Biden in 2022.